What’s the answer?

Suggested Solution

Provides coverage of a fixed death benefit amount for a
specific period of time.

Innovative & Collabrative

David is the primary wage-earner for his family and worries about a time he might not be there anymore. He wants to ensure his family isn’t burdened by costs for his funeral or unpaid medical bills.

What’s the answer?

David purchased a permanent life insurance policy from Erie Family Life to provide the funds necessary to pay final expenses. He feels better knowing it might help ease their pain during a stressful time.

Suggested Solution

Provides coverage of a fixed death benefit amount for a specific period of time.

Like many of us, Michael is looking for a safe way to ensure his dreams of a comfortable retirement become reality. He is planning to save for the future and wants to guarantee an income during his retirement years.

What’s the answer?

Michael wasn’t sure where to start so he talked to his local ERIE agent. Erie Family Life offers several retirement savings options like annuities, Individual Retirement Accounts (IRAs) and life insurance planning for businesses.

Suggested Solution

Provides coverage of a fixed death benefit amount for a specific period of time.

Barbara has worked hard to build a good life and wants to leave behind a legacy that matters. She would like to establish a plan that would help her family financially and ensure charitable gifts to her favorite organizations.

What’s the answer?

Barbara purchased a permanent life insurance policy from Erie Family Life that will provide for her family and her favorite charities. It offers guaranteed cash value accumulation and a guaranteed death benefit.

Suggested Solution

Combines the affordability of term insurance with the long-term security of permanent life insurance.

Karen and Susan are partners who put their heart and soul into making sure their business thrives. They want to be prepared in case something should happen to one of them or to a key employee.

What’s the answer?

Karen and Susan talked to their ERIE agent about how to use life insurance for smart business planning. They purchased a universal life policyto provide funding for a buy-sell agreement and key person protection.

Suggested Solution

Innovative & Collabrative

David is the primary wage-earner for his family and worries about a time he might not be there anymore. He wants to ensure his family isn’t burdened by costs for his funeral or unpaid medical bills.

What’s the answer?

David purchased a permanent life insurance policy from Erie Family Life to provide the funds necessary to pay final expenses. He feels better knowing it might help ease their pain during a stressful time.

Suggested Solution

Like many of us, Michael is looking for a safe way to ensure his dreams of a comfortable retirement become reality. He is planning to save for the future and wants to guarantee an income during his retirement years.

What’s the answer?

Michael wasn’t sure where to start so he talked to his local ERIE agent. Erie Family Life offers several retirement savings options like annuities, Individual Retirement Accounts (IRAs) and life insurance planning for businesses.

Suggested Solution

Barbara has worked hard to build a good life and wants to leave behind a legacy that matters. She would like to establish a plan that would help her family financially and ensure charitable gifts to her favorite organizations.

What’s the answer?

Barbara purchased a permanent life insurance policy from Erie Family Life that will provide for her family and her favorite charities. It offers guaranteed cash value accumulation and a guaranteed death benefit.

Suggested Solution

Karen and Susan are partners who put their heart and soul into making sure their business thrives. They want to be prepared in case something should happen to one of them or to a key employee.

What’s the answer?

Karen and Susan talked to their ERIE agent about how to use life insurance for smart business planning. They purchased a universal life policyto provide funding for a buy-sell agreement and key person protection.

Pick the one your children would most likely attend and we'll project how much your college education expenses might be.

Community

(average annual cost $11,438*)

Public

(average annual cost $19,548)

Private

(average annual cost $43,921)

* Source: Collegeboard.org

Education

Do you want to contribute to anyone else's education?

For example: grandchildren, nieces, nephews, etc.

YesNo

Education

How much would you like to contribute?

Enter a number

Legacy & Inheritance

Would you like to leave an inheritance or charitable gift?

For example: family members, charities, churches, or other organizations.

YesNo

Legacy & Inheritance

What's the total amount you would like to leave?

Enter a number

Assets

How much do you already have in life insurance?

For example: a policy provided by your employer.

Enter a number

Assets

Do you have other assets that could be used to cover expenses?

For example: savings accounts, stocks, bonds, CDs, etc.

Enter a number

Based on your responses, here's the estimated amount of coverage you may need:

Keep your loved ones protected.

Your calculations.

Your options.

Term life is cost-effective protection for a specified amount of time. Term doesn't build up cash value.

Whole life provides protection as long as you live (premiums must be paid) with a guaranteed level premium.

Universal life is a flexible policy with variable premium payments. Typically for people who need college savings, estate planning, business planning or additional retirement savings. There is cash value.

What's next?

Your agent can help you choose the policy that best fits you and your family's needs.

This calculator is a planning tool designed to assist you. The results and explanations generated by this calculator may vary due to your input and assumptions. Erie Insurance does not guarantee the accuracy of the calculations, results, explanations, nor applicability to your specific situation. All projections are hypothetical and we recommend you use this calculator as a guideline only. For a more accurate and detailed analysis specific to your circumstances and needs, contact an ERIE agent or other financial professional.

By starting over, you'll remove the details that you entered into the calculator and start at the beginning.